Plain and simple, houses are just outdated but with great cabinets, good foundations, good roofs and plumbing.

Kitchen has mosaic tiled backsplash, new SS appliances, shaker cabinets, quartz counters & modern lighting.

Open all cabinets closets built ind draws etc.

. - if you're renting by the room vs renting the whole unit to a group of friends, have the following written into the leases: designated cabinets, designated fridge space, designated laundry days, overnight guest rule (and what's considered 'overnight'), + large gatherings rule.- remember that you'll be paying all utilities if you rent by the room, so factor that into what you charge for rent, and consider using remotely-controlled nest thermostats so they can't jack the heat up beyond what any normal person would pay for (if you're in a cold area). the same could be said for a home with central air in a warmer climate.- consider baking into the rest biweekly housekeeping, so that you know that the property is being kept up with (prevents pest issues), and you won't have to deal with any quarrels over who's cleaning the common areas more than who.- always have the parents co-sign the lease.- make a manual for them. what would your own kids be calling you about when they first move out on their own?

One strategy I used was to buy a house with minor repairs (Paint/carpet/new cabinets) using my VA loan fix it up while I lived there and sell when I PCS'd.

New flooring throughout, painted kitchen cabinets, new furnace and AC, remodeled bathroom, new appliances, new light fixtures, new baseboard, new electrical panel What was the outcome?

Tenant moved out after two years leaving an extremely dirty house ( floors, carpets, cabinets, appliances, outdoor area/yard).

Ex: freshening up existing kitchen cabinets with paint and hardware vs buying all new cabinets saves $ that could be put toward a new walk in closet. 

If you are getting new cabinets and flooring for example, then no, its not needed. 

The idea is that once the underlying components are repaired, it is very easy and relatively less expensive to replace top-layer components (cabinets, flooring, fixtures, paint, etc.)